PIB: Host Communities Trust Fund divides Senate

The Senate has finally passed the long-awaited Petroleum Industry Bill (PIB) after the clause by clause consideration of the report of its Joint Committee on Petroleum (Upstream, Downstream, and Gas).

The lawmakers approved 3 percent for the host communities after a heated debate between the South-South senators and some northern senators, who argued that the 3 percent for host communities was fair enough.

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The South-South senators had advocated for 5 percent in view of the monumental damage and sufferings the host communities had been subjected to for a long time.

Details shortly…